McCormick Stock Higher on JPMorgan Upgrade

Shares of McCormick (MCK) were rising by 1.52% to $99.92 on Wednesday morning, following a rating upgrade to "neutral" from "underweight" at JPMorgan.

The upgrade comes following recent comments from the spices company that M&A is going to play an "expanded role" in relation to the company's growth. JPMorgan still believes the stock is overvalued, but does see potential for EPS to expand quickly under the possible M&A.

JPMorgan set a price target of $96 on McCormick stock, up from its previous price target of $91.

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